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| BondsOnline.com: instant access to and extensive coverage of over 3.5 million stocks, bonds, indexes and other securities covering major and emerging markets and exchanges across the globe. |
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| Bonds Online |
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| 5/10/2013Market Performance |
| Municipal Bonds |
|---|
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S&P National Bond Index
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3.00% |
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S&P California Bond Index
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2.96% |
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S&P New York Bond Index
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3.13% |
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S&P National 0-5 Year Municipal Bond Index
|
0.70% |
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| S&P/BGCantor US Treasury Bond |
400.09 |
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| More |
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| Income Equities: |
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| Preferred Stocks |
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S&P U.S. Preferred Stock Index
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848.03 |
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S&P U.S. Preferred Stock Index (CAD)
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636.26 |
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S&P U.S. Preferred Stock Index (TR)
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1,701.05 |
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S&P U.S. Preferred Stock Index (TR) (CAD)
|
1,276.26 |
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| REITs |
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S&P REIT Index
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174.07 |
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S&P REIT Index (TR)
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425.30 |
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| MLPs |
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S&P MLP Index
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2,469.58 |
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S&P MLP Index (TR)
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5,428.50 |
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See Data
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Muni Christmas!: December Bargains for Bond Buyers? |
THE WALL STREET JOURNAL - DEC. 2, 2010 - BY WSJ’s Jeannette Neumann reports
Municipal bond investors yanked record amounts of money from mutual funds in recent weeks. But for contrarians looking to buy, the best bargains might be gone by January. Here’s why.
First, simply put, state and local governments will be borrowing less in January. That’s because many amped up their borrowing in December, ahead of the Dec. 31 expiration of the Build America Bond program (BABs).
The BABs program provides federal subsidies to local governments that issue taxable bonds. While there is growing expectation that BABs will be extended by Congress, the subsidy rate is likely to be lower. So states and cities hit the market with a surge in muni bonds in recent weeks, eager to lock in the current 35% interest rate subsidy, said George Rusnak, national director of fixed income for Wells Fargo Private Bank.
And state and local governments are not just borrowing more through BABs in December. They’re also borrowing more via traditional tax-exempt muni-bonds at the same time. Borrowers tend to do their borrowing all at once in order to save money. Otherwise they’d have to pay the rating agencies, underwriters and bond lawyers for separate deals, says John Miller, chief investment officer of Nuveen Asset Management in Chicago. So, that mini boom in December muni borrowing will likely lower the supply of both tax-exempt and taxable bonds in January, he says.
For the complete article visit THE WALL STREET JOURNAL
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Income Security Recommendation January 2013 Issue.
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